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Better customer experience can boost a retailer's revenue by 5 percent and retailers missed out on $150 billion in payback last year in failing to provide personalized service to consumers, according to the latest latest TimeTrade State of Retail 2017.

A November 2016 survey of US internet users from TimeTrade found that nearly half of respondents don’t mind being monitored by beacons or Wi-Fi technologies while shopping, as long as it benefits them in some way.

Imagine walking into a store and being greeted by a 4-foot tall friendly robot that can help you with almost any general query. You might not have to imagine much longer, as 2017 is the year SoftBank Robotics' Pepper the robot might be coming to a retail location near you. According to a TimeTrade retail report, 90% of shoppers cannot always find the right person to help.

Retailers missed out on $150 billion in revenue in 2016 because they failed to provide shoppers with personalized service, according to a new survey by TimeTrade. Providing shoppers with better customer experience could increase revenue by at least 5 percent, while millennials say they would pay up to 20 percent more for better retail experiences.

The word from TimeTrade’s State of Retail 2017 Survey showed not only did retailers miss out big from lack of personalization, but it’s the kind of thing that’s been going on for some time. Eighty-two percent of respondents in the State of Retail 2017 Survey had shopped in brick-and-mortar, but 49 percent had never had a personalized shopping experience.

Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail 2017 survey of U.S. consumers. The survey suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers the personalized shopping experiences they want.

U.S. retailers missed out some $150 billion in potential revenue this past year by failing to offer personalized experiences that consumer demand, according to the State of Retail 2017 survey from TimeTrade Systems, Inc.

Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail 2017 survey of U.S. consumers. In fact, the State of Retail 2017 survey results suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers personalized shopping experiences.

With connected devices allowing consumers to order anything they want or find any piece of information instantly, a culture of instant gratification has been created. As such, it should come as no surprise that TimeTrade’s State of Retail 2017 Survey found retailers are missing out on a large piece of the puzzle with lack of providing personalized experiences.